4,054 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by GAMMA Investing LLC

GAMMA Investing LLC bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,054 shares of the information technology service provider’s stock, valued at approximately $313,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Cognizant Technology Solutions by 32.8% in the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after purchasing an additional 4,365,493 shares during the period. Boston Partners raised its position in Cognizant Technology Solutions by 3.0% during the 3rd quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after buying an additional 231,782 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Cognizant Technology Solutions by 5.0% in the third quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock valued at $418,467,000 after acquiring an additional 294,415 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cognizant Technology Solutions by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,042,016 shares of the information technology service provider’s stock worth $206,066,000 after acquiring an additional 28,455 shares during the period. Finally, Stifel Financial Corp raised its holdings in Cognizant Technology Solutions by 3.6% during the third quarter. Stifel Financial Corp now owns 1,680,009 shares of the information technology service provider’s stock worth $113,804,000 after purchasing an additional 58,422 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $67.52 on Thursday. Cognizant Technology Solutions Co. has a 52 week low of $58.09 and a 52 week high of $80.09. The stock has a fifty day moving average price of $73.94 and a 200 day moving average price of $72.55. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $33.61 billion, a P/E ratio of 16.08, a PEG ratio of 1.55 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

Insider Buying and Selling

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. Societe Generale restated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $85.00 in a report on Thursday, January 11th. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.44.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.